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SON

Sonoco

$64.65 /

-0.75 (-1.15%)

, OXY

Occidental Petroleum

$50.26 /

-0.36 (-0.71%)

10:24
06/24/19
06/24
10:24
06/24/19
10:24

Fly Intel: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Sonoco (SON) downgraded to Sell from Neutral at Goldman Sachs with analyst Brian Maguire citing valuation. 2. Occidental Petroleum (OXY) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Devin McDermott saying he believes covering the 2020 dividend at current oil prices will require meaningful capital expenditure cuts, even though the Anadarko (APC) deal looks accretive to cash flow. 3. International Paper (IP) downgraded to Equal Weight from Overweight at Stephens with analyst Mark Connelly saying RISI decided to cut the price of containerboard $10 "just three days after investors breathed a sigh of relief on encouraging supply-demand fundamentals." 4. Shopify (SHOP) downgraded to Neutral from Buy at Roth Capital with analyst Darren Aftahi saying he remains positive on its underlying business prospects following the company's Unite conference and investor day but not on the stock's valuation, which has increased in the wake of the event. 5. Spotify (SPOT) downgraded to Underperform from In Line at Evercore ISI with analyst Kevin Rippey saying the recent rally in the stock "reflects an overly optimistic view" on the company's gross margin path and potential label negotiation outcomes. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

SON

Sonoco

$64.65 /

-0.75 (-1.15%)

OXY

Occidental Petroleum

$50.26 /

-0.36 (-0.71%)

IP

International Paper

$42.60 /

-1.02 (-2.34%)

SHOP

Shopify

$314.70 /

-11.98 (-3.67%)

SPOT

Spotify

$149.34 /

+1.17 (+0.79%)

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SON Sonoco
$64.65 /

-0.75 (-1.15%)

06/24/19 Goldman Sachs
Sonoco downgraded to Sell from Neutral at Goldman Sachs
04/24/19
Fly Intel: Top five analyst upgrades
04/24/19
Sonoco upgraded to Buy from Hold at Argus
04/24/19 Argus
Sonoco upgraded to Buy from Hold at Argus
OXY Occidental Petroleum
$50.26 /

-0.36 (-0.71%)

06/24/19 Morgan Stanley
Occidental Petroleum downgraded to Equal Weight at Morgan Stanley
06/24/19 Morgan Stanley
Occidental Petroleum downgraded to Equal Weight from Overweight at Morgan Stanley
06/14/19 Mizuho
Western Gas Partners initiated with a Buy at Mizuho
05/21/19
Occidental Petroleum downgraded to Market Perform at Wells Fargo
IP International Paper
$42.60 /

-1.02 (-2.34%)

06/24/19 Stephens
International Paper downgraded to Equal Weight from Overweight at Stephens
04/16/19 BofA
International Paper, Packaging Corp. downgraded to Neutral at BofA/Merrill
04/16/19 BofA
International Paper downgraded to Neutral from Buy at BofA/Merrill
04/05/19
Fly Intel: Top five analyst downgrades
SHOP Shopify
$314.70 /

-11.98 (-3.67%)

06/24/19 DA Davidson
Shopify price target raised to $400 from $290 at DA Davidson, maintain Buy
06/24/19 Roth Capital
Shopify downgraded to Neutral from Buy at Roth Capital
06/21/19 Barclays
Shopify price target raised to $310 from $225 at Barclays
06/20/19 Canaccord
Shopify price target raised to $360 from $270 at Canaccord
SPOT Spotify
$149.34 /

+1.17 (+0.79%)

06/24/19 Evercore ISI
Spotify downgraded to Underperform at Evercore ISI
06/24/19 Evercore ISI
Spotify downgraded to Underperform from In Line at Evercore ISI
04/26/19 Morgan Stanley
Spotify should be long-term winner as streaming music grows, says Morgan Stanley
03/29/19 Credit Suisse
Spotify initiated with an Underperform at Credit Suisse

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